v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The fair value of the Company’s financial assets measured on a recurring basis was as follows:
March 31, 2026
Level ITotal
Cash and cash equivalents:
Cash$70,401 $70,401 
Money market funds670,962 670,962 
Total Cash and cash equivalents$741,363 $741,363 
December 31, 2025
Level ITotal
Cash and cash equivalents:
Cash$57,363 $57,363 
Money market funds197,112 197,112 
Total Cash and cash equivalents$254,475 $254,475 
The Company classifies its highly liquid money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company had no Level 2 or Level 3 financial assets as of March 31, 2026 and December 31, 2025.
Interest income from investments was $2,878, and $3,657 for the three months ended March 31, 2026 and 2025, respectively.
Financial Instruments Not Recorded at Fair Value on a Recurring Basis
The Company reports financial instruments at fair value, with the exception of its convertible notes. Financial instruments that are not recorded at fair value on a recurring basis are measured at fair value on a quarterly basis for disclosure purposes. Refer to Note 6. Debt for the carrying values and estimated fair values of financial instruments not recorded at fair value.